A group of around 30 farmers from Midlands Farmers from around the area gathered with tractors at the West Bridgford superstore to engage with the public and protest over Government tax changes.
The convoy of farmers drove their tractors to an ASDA superstore in Thurmaston, on the outskirts of Leicester, to formally request the store manager’s support for their cause.
The group plans to visit several other major supermarkets across Leicester and Nottingham, aiming to rally support for their protests.
Edward Greaves, the representative for Midland Farmers, a group of farmers from across the East Midlands spoke to The Wire – you can watch the video below:
@westbridgfordwirenewsMIDLANDS FARMERS said: We farmers, like you, want the rich landowners to pay their taxes… Unfortunately the new inheritance tax change WILL NOT affect these people. Their land is held in trusts, a trust cannot die so Inheritance Tax will never be paid by them. Instead the new Labour government policy will only affect small family farms, those often farmed by many generations, hardworking farmers working seven days a week, day in day out in all weathers. When they inherit the farm upon the death of a loved one they will have to pay 20% of the entire estate value straight to the government. The valuation includes the value of all land, machinery and buildings which can easily be over the governments allowance thresholds. Even if it is spread over ten years the majority of farms do not earn enough money to pay this Inheritance Tax bill without selling off some of their land or business, this then makes the farm unprofitable. If the farm then isn’t profitable and there is a tax bill of thousands to pay every year the only option is to then sell the farm. Other farmers will be in the same situation and will not be able to buy. The only people interested in buying will be the huge intensive factory farms (non-organic, with lower animal welfare standards) and more of the big trusts investing in land (never paying inheritance tax!) or house builders. Ultimately this will lead to a loss of tax revenue for the government, less managed countryside less wildlife, lower standards of animal welfare and the reliance on importing more food. This new Inheritance tax will affect us all. It will damage the UK’s food security, with less British farmers growing food, the UK will become overly reliant on imports. Food prices WILL INCREASE significantly. On 17 January A group of around 30 farmers from Midlands Farmers from around the area gathered with tractors at the West Bridgford superstore to engage with the public and protest over Government tax changes.
Morrisons and Boots have already pledged their backing. This comes in response to the 20% inheritance tax introduced by Rachel Reeves in her October Budget, set to take effect in April.
The new policy imposes the tax on farmers’ assets valued at more than £1 million, replacing the previous tax exemptions that allowed family farms to be passed down through generations without the 40% duty.
A leaflet handed out to shoppers reads:
MIDLANDS FARMERS
‘We farmers, like you, want the rich landowners to pay their taxes…
‘Unfortunately the new inheritance tax change WILL NOT affect these people.
Their land is held in trusts, a trust cannot die so Inheritance Tax will never be paid by them.
‘Instead the new Labour government policy will only affect small family farms, those often farmed by many generations, hardworking farmers working seven days a week, day in day out in all weathers. When they inherit the farm upon the death of a loved one they will have to pay 20% of the entire estate value straight to the government. The valuation includes the value of all land, machinery and buildings which can easily be over the governments allowance thresholds.
‘Even if it is spread over ten years the majority of farms do not earn enough money to pay this Inheritance Tax bill without selling off some of their land or business, this then makes the farm unprofitable.
‘If the farm then isn’t profitable and there is a tax bill of thousands to pay every year the only option is to then sell the farm. Other farmers will be in the same situation and will not be able to buy. The only people interested in buying will be the huge intensive factory farms (non-organic, with lower animal welfare standards) and more of the big trusts investing in land (never paying inheritance tax!) or house builders.
‘Ultimately this will lead to a loss of tax revenue for the government, less managed countryside less wildlife, lower standards of animal welfare and the reliance on importing more food.
‘This new Inheritance tax will affect us all. It will damage the UK’s food security, with less British farmers growing food, the UK will become overly reliant on imports. Food prices WILL INCREASE significantly.
UK Farmers earn less than 1% profit on most food they produce
‘For example, for a wrapped, sliced loaf of bread, the cereal farmer spends 9.03p YET RECEIVES AN ALMOST NEGLIGIBLE PROFIT (0.09P) on a selling price of £1.14
‘UK farmers are often left with far less than 1p profit from the food items they produce, a new report from Sustain has revealed. Sustain looked at five everyday amounts of foodstuffs – apples, cheese, beefburgers, carrots, and bread – and found that, after intermediaries and retailers take their cut, farmers are sometimes left with far less 1% of the profit.
“Supermarkets are making millions and millions of pounds in profits. Every person in the UK needs a farmer every day – you all eat food.”
